Eni SpA Sells TAG Stake

Italy’s energy group Eni SpA has completed the sale of its majority stake in the TAG pipeline which brings Russian gas to Europe Eni said in a statement on Thursday. Proceeds from the sale totalled around 710 million euros of which 533 million euros was for the stake and about 177 million euros was repayment of shareholder loans provided by Eni to TAG it said.

In June Eni agreed to sell its 89 percent stake in the pipeline fulfilling a commitment under a European antitrust ruling.